STRIPPED BOND Definition

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STRIPPED BOND is a bond that can be subdivided into a series of zero-coupon bonds.

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CHATTEL MORTGAGE CONTRACT is a credit contract used for the purchase of equipment where the purchaser receives title of the equipment upon delivery but the creditor holds a mortgage claim against it.

ORIGINAL FACE is the the face value (original principal amount) of a security, generally a mortgage- or asset­-backed security, as of its issue date.

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